Press release

HR Path Raises 100 Million Euros and Targets a Global Leadership in Services Dedicated to Human Resources

Sponsored by Businesswire

, an innovative French technology company covering the
entire field of human resources, announces that € 100 million have been
raised through the support of
. This historic investment – unprecedented for
any French HR company – will fuel HR Path’s rapid expansion into
international markets and strengthen its status as a key player in the
HR field.

A real French success story, HR Path was born when two French HR
consultants, François Boulet and Cyril Courtin, met in 2001. Forming an
immediate friendship, the team identified an opportunity to create a
technology system that serves all functions of personnel management from
one single platform. Thus, forming a new global HR superpower that
affectively combines key-business acumen and cutting-edge technology,
offer the best HR services to any size business.

The end-to-end control of the value chain, particularly designed to
manage multidisciplinary teams, allows HR Path to serve the HR
performance of companies
like no other player in the market. The
range of services offered by HR Path guarantee its customers a
personalized and always responsive solution to their problems, from HR
transformation consulting, to maintenance and outsourcing, through the
implementation of software solutions and the management of the software

HR Path is currently the main integrator of Cegid, Oracle Cloud for HCM,
SAP SuccessFactors, Workday, HR Access, Sage and Talentsoft. At the same
time, HR Path has developed its own software suite: PoweHR to address
payroll management, time management, talent management, including the
public sector and a decision tool.

From promising start-up status to an international scale-up, HR Path
is a success story of entrepreneurship made in France.

In 18 years, the young company headquartered in Paris has won the trust
of some 1,200 customers including 85% of the SBF 120, mid-market, SMEs
and public sector entities. Currently present in 14 countries on 5
continents, HR Path employs more than 800 employees and has a turnover
of 95 million euros with growth of more than 30% over the last fiscal

The two prior fundraising events in June 2015 and March 2017 – EUR 10
million and EUR 30 million respectively – enabled it to change the scale
and to assert itself as a major European player in the field of human
resources, and more particularly in the digital transformation of the HR

Thanks to the support of the ANDERA Partners investment fund and the
banking pool composed of Société Générale, BNP Paribas, Crédit Agricole
Ile-de-France and Banque Palatine, this third round of financing,
where the 100-million-euro amount is among one of the most important
recent fund raisings in French Tech
, confirms the continuation of HR
Path’s exponential growth.

HR Path intends to continue its international expansion by
strengthening its territorial network in the United States, Asia
Pacific, Europe, and, depending on opportunities, in other territories
where it is already established.

With both organic and external growth, the goals of HR Path are

– Reach a turnover of 130 million euros in 2020, and 240 million euros
within 5 years

– Increase its workforce

– Become the world leader in global solutions for human resources

“Reactivity, agility, adaptability: we often hear these words, but
with HR Path, we wanted to give them concrete meaning, without setting
limits. Because this adventure is also proof that French
entrepreneurship knows how to be dynamic and conquering, creating jobs
and able to shine internationally,”
said François Boulet and
Cyril Courtin, founding partners of HR Path.

“We have been following the HR Path group and its leaders for
several years now and are impressed by the growth trajectory in France
and abroad, as well as by the solid entrepreneurial partnership that
François and Cyril have built.
At the heart of the Winch Capital
fund strategy lie financing and supporting the change of scale of French
champions wanting to become world leaders in their market: we are
delighted to finance and support this new HR Path growth cycle,
Antoine Le Bourgeois and François-Xavier Mauron, Managing Partners of
Andera Partners.

Concerning HR Path

HR Path, an expert and a major player in Human Resources, helps
companies for whom human capital is essential in their digital
transformation. Advise, Implement & Run are the 3 business lines of HR
Path which contribute to the corporate HR performance. Founded in Paris
(France) in 2001, its 800 talents support more than 1200 clients in 14
countries. To this date, its turnover is of €95 million.
information :
the HR
Path Foundation
(in French)

Concerning Andera Partners

Created in 2001 as part of the Edmond de Rothschild Group, Andera
Partners is a leader in investments in unlisted companies in France and
internationally. It manages nearly €2.3 billion in investments in life
sciences (BioDiscovery), growth and buyout capital (Winch Capital in
mid-caps and Cabestan Capital in small-caps) and sponsorless mezzanine
debt (ActoMezz).
Andera Partners is 100% owned by its teams and
places service to entrepreneurs and respect for partners at the heart of
its concerns. The company is also a signatory to the United Nations
Principles for Responsible Investment (UNPRI), which encourage the
adoption of best environmental, social and governance (ESG) practices.
in Paris, Andera Partners is an AMF-approved asset management company
that employs 64 people, 44 of whom are investment professionals. It is
structured as a partnership and managed by a board of 10 partners.
to the performance of its funds, the diversity of its services and its
organisational model, Andera Partners stands apart from other companies
in its markets, where it is recognised as a major player.